Indian-origin Kunal Shah becomes one of the youngest partners at Goldman Sachs

Shah, 32, is among the 78 individuals to be promoted as partner, and is one of the five persons of Indian-origin to have made the cut in Goldman Sachs


Kunal Shah, Indian-origin managing director at Goldman Sachs has been promoted to the position of Partner, becoming the youngest to be inducted into the global investment giant’s most coveted club.


The 32-year-old is among the 78 individuals to be promoted to this position, and is one of the five persons of Indian-origin to have made the cut in Goldman Sachs in 2014 class of Partners.


Shah was promoted to managing director at the investment banking giant at the age of 27. The Cambridge University math graduate was also named in Forbes ‘30 under 30’ Finance list in 2011.


He has been a rising star at Goldman since he joined the company in London in 2004, analysing interest rate products, before trading on the global macro desk, according to Forbes.


The other persons of Indian-origin named to GS' elite group are Meena Lakdawala Flynn, Manikandan Natarajan, Umesh Subramanian and Rajesh Venkataramani.


Goldman Sachs Chairman and Chief Executive Officer Lloyd Blankfein and President and Chief Operating Officer Gary Cohn personally called the 78 individuals to inform them of their elevation to the position of Partner, yesterday.


“These appointments recognise some of the firm’s most senior professionals and acknowledge their embodiment of our culture and values, and their leadership of the firm’s business and people,” Blankfein said in a statement. “We look forward to their continued strong performance and leadership in the years ahead.”


Goldman Sachs selects its partners every two years through an extremely secretive and rigorous month-long selection process.


The record for becoming the youngest Goldman Sachs Partner is held by Eric Mindich who was promoted in 1994 at the age of 27.


The 2014 class of Partners includes 11 women, 23 employees from investment banking, 25 from securities, 11 from investment management, four from merchant banking and three from research. They will become Partners of the firm starting 1st January next year.


Goldman now has 467 partners, an elite group that represents about 1.6% of its 33,500-strong workforce.


The position of Partner brings with it some of the biggest Wall Street perks including a lucrative paycheck with salaries of about $900,000 and a portion of the bank’s bonus pool, which is divided up among only the partners.


The partners also have access to special investment opportunities that are not available to other employees.


Goldman had ceased to be a private partnership when it went public in 1999.


But the ritual of selecting partners still remains a core and among the most coveted part of the company’s identity and culture.


9 Ways to Protect Your Money from Shady Investment Dealings

Unscrupulous investment opportunities can empty out your wallet. Before committing any money, have a big think about the pluses and minuses of the offers, read the fine print, and only invest in products you comfortably understand


Shady investment opportunities employ aggressive marketing tactics in an effort to get consumers to open up their wallets as wide as possible. Here are some red flags to watch out for in the advertising of these dealings to help protect you from falling victim.

1. Glowing testimonials. All of the testimonials, almost half of which targeted the elderly or those planning for retirement, had omitted vital information, including the risks involved with investing money. Many of the testimonials did not appear to report results that are typical or achievable for the ordinary subscriber. And some contained blatant lies.

2. Graphs that tout tremendous growth. While an investment in gold and other precious metals can help diversify your portfolio and help hedge against inflation, you should ask yourself some questions before pulling the trigger on a big purchase. The truth is the price of gold fluctuates over time and there is no guarantee the commodity will increase or even maintain its value

3. Claims of investing secrets revealed. A 770 account is not really a secret bank account; it’s a whole life insurance policy, and it’s no secret. Think carefully before paying for any investment newsletter advertising this way — if something in the advertising sounds unbelievable, you probably shouldn’t believe it.   

4. Again, claims of investing secrets revealed. While the ads seem to indicate you can get 1000% returns using the Biblical Money Code, it’s far more likely you’ll just get some common-sense investing tips and a $47 newsletter.

5. Opportunities to trade someone else’s money. The prospect of trading thousands and keeping the majority of the profits is the focus of the website, which never tells you how many people who sign up for the costly educational course ever end up being chosen to trade the money and keep profits.

6. Offers that advertise a “free” amount of anything. “We’re holding $500 worth of free silver coins!” reads a headline on “Just for you!” But the reality is you have to purchase $20,000 of silver from the precious metals seller before you get the $500 worth of “free” silver.

7. Offers that advertise a “simple” approach to investing. So while the offering may appeal to you, know that a fixed index annuity is not simple and it’s not an investing or retirement panacea. Ask lots of questions. Consult an independent financial advisor

8. Sites that guarantee your satisfaction. The policy that a customer pays for any market loss on returns but any market gains on refunds goes to, you guessed it, the company.

9. Get-rich-quick pitches. Before jumping into any penny stock, consumers should just be aware that there have been major penny stock scams in the past, and investment experts say that penny stocks are very risky and generally warn people to be careful about investing their money this way.

Before committing any money, have a big think about the pluses and minuses of the offers, read the fine print, and only invest in products you comfortably understand. Also, it doesn’t hurt to get a second opinion from a trusted source. The more you go it alone, the more you may be susceptible to one of the above marketing ploys.




Open Letter to the new Railway Minister Suresh Prabhu

Former Managing Director of Konkan Railway and pioneer of the Skybus Rajaram Bojji, popularly known as B Rajaram wrote an open letter to new Railway Minister Suresh Prabhu with practical suggestions and possibilities for drastically improving the Indian Railways


Rajaram Bojji or B Rajaram, inventor of the indigenous & cost-effective anti-collision device (ACD) technology and former managing director, Konkan Railway has written an open letter to Suresh Prabhu, the new Minister for Railways. In the letter, Mr Bojji has provided practical suggestion to improve the Indian Railways.



Shri Suresh Prabhu,

Minister of Railways,

New Delhi



Dear Shri Prabhu,


I am personally very happy that a person like you, with balance in thought and speech will head the tough Railway Ministry. Many will rush to advise you, but the very size of the system could overwhelm anyone, with the Railway Board making life miserable by dumping you with day to day operational problems and mishaps.


Midnight calls would likely keep you awake.


I just want to share some ideas and advice more as an old friend. Suppose I happen to be in your shoes what I would do?


Here are some brief action points. We all know that the Railways need modernization. However, our Railway Board is busy building its own individual departmental empire. Too many committees have come out with voluminous or simplistic reports. Give more money or import is the solution they come up with and grand numbers like Rs1 lakh crore. But what about viability?


In my opinion, it is irresponsible to give financially suicidal recommendations. Foreign direct investment (FDI) is glibly talked about and immediately our babus push for foreign technology based brand new workshops or manufacturing facilities, with guaranteed cash outflow but without guaranteed performance levels of output to improve revenues or safety. I suggest FDI or public-private-partnership (PPP) should always be based on the principle of assuring least financial burden on the Railways in particular and on the nation more generally.


Some examples of effective application of FDI and PPP:


1. Modernization of technology for coaches and locomotives:-


Existing manufacturing facilities all be handed over in exchange for equity stake, to modern technology providers creating a technology upgradation PPP. Every 5 years, technology modernisation cycle should be planned. Export to foreign markets, Make in India also should be a condition. Our assets, valued at current prices, be handed over and any profit the PPP makes will be shared by the Railways. Assured order quantity be committed in return for the above. The FDI has to be accepted only from technology leaders in that area. It is not money, but technology we need. No fresh land or structures are needed. Instead of one-time technology upgradation, we will get assured technology upgradation for a longer period. We will also save on staff costs and material costs. Current staff should be offered VRS or relocation. The FDI PPP may re-engage with better salaries for deserving staff.


2. Case of keeping stations clean:


Adjust current costs (like maintenance, cleaning, managing security , parking facilities, food sales, parcel management, etc) for inflation and make it an annual guaranteed payment. Assets of the station and the land around should be valued at current market prices and treated as stake of railway in the proposed JV. Private party with sound financial standing should be invited to form PPP to provide modernization of station equipment like escalators, retiring rooms, cafeteria facilities, refurbished flooring and lighting, and with quality of service certified by a third party like Technischer Überwachungsvereina (TUV). The income stream for this JV company is the guaranteed cash inflow from Railways, the proceeds of platform access charges for non passengers, cafeteria food sales, commercial exploitation of land attached to station. This PPP JV can raise debt funding based on capital at charge for modernizing the station facilities to improve revenues. As major equity holder, Railways will share profits of the company, but will not be part of management. The company board will have a Railways representative. This step can unlock the unearned value of railway properties in and around stations and change face of the Railways.


3. Medical Organisation:


Railways has more doctors than officers running railways. The hospitals too are well developed and sit on prime properties. All the real estate should be transferred at current market value along with the equipment into a JV. With a well recognized hospital and medical healthcare management company, all Railways doctors should be offered alternate placement in the PPP JV. Similar to station service management, the JV will use this equity base to raise funds in the market, modernizes streamline and offer better quality service to railway employees. What is the assured revenue stream? Here gain take the current cash outflow on medical services and offer the same for each Zonal Railway to to set up a JV on this basis. Further commercial exploitation of lands also be allowed. Railways will hold a major share in the company and automatically get profit shares. So all medical services in railways thus will get managed by 10 or 15 PPP mode JVs. Again Railways by agreement shall not be in management. Only Board of Directors of each company will have Railways representatives. Digital networking, telemedicine and smoother workflow, shall be part of the agreementm with medical records of employees becoming accessible all over India. The company should be allowed to take outside patients too, as paying customers, including foreign patients. Medical tourism should be actively encouraged. All this, without neglecting railway employee interests.


4. Railway Colonies:

Even today, huge land space is occupied by railway colonies with sprawling bungalows. It's time we form a JV with our land and buildings valued at current market prices, with private real estate companies. For railway officers and staff, modern flats with amenities can come up, increasing capacity and providing excellent facilities by land reuse. Old and difficult to maintain bungalow culture must be done away with. More green space, biking tracks, neater and tidier roads with lighting should be built. Apart from the assured cash inflow at current costs, being incurred by the Railways, the PPP can generate additional revenue streams by building modern supermarkets, high-end entertainment and shopping malls in the land released. Funds can be easily raised because of the heavy equity base of Railway assets transferred at market rates. The rent payments of employees will go to the company. The company becomes responsible for maintenance, water supply, sanitation etc. Railways again gets share of profits. Saves staff costs and material costs as well as contractual costs of maintaining huge colonies with major concentrations of employees.


5. Track machines, track laying equipment, welding and ballasting:


Railways should not own any of the above. Transfer all related equipment to a JV with PPP . Provide assured cash flow in terms of current cash outflow for promised outputs as laid down today. Modernization of equipment, improved productivity, assured quality can be well defined and third party quality assurance certification part of deal. New line construction also is to be handled by these JVs. Profits will be shared by Railways as stakeholder. But no management participation by Railways except representation in Board of Directors of the JV company. For the entire Indian Railways, about 10 or 12 companies can be supported.


6. Electrification:


Electrification too can follow the above model by collaborating with zonal level service providers through JVs.


7. Improving speeds, throughput and safety:

  1. Get rid of fixed signals, have cab signalling, moving block system for train operations. Indigenous technology is available and has been tried for 160 kmph speed successfully. Railways should use the advanced version of ACD (Anti-Collission Device), India's own technology.

  2. Average speeds can be raised by 30 to 50% for goods and passenger trains, as well as doubling capacity.

  3. This would cost less than one-third the imported alternative technologies. And we already have rolling stock technology for 160 kmph speeds, which can be upgraded to 180 kmph.

  4. Safety needs to be assured by adopting Safety Integrity Level (SIL) of 2/3 of CENELEC certification, not by RDSO.

8. Make Zonal Railway Departments centres of responsibility and authority:


Most important step is to make zonal railway a centre of responsibility and authority. Wide area digital networking on the lines of Konkan Railways, integrating all facets of railway operations, must be implemented.



With these measures, Railways can create profit centers from current cost centers. Efficiency will improve, people will see a new face of Railways to be proud of. This would be financially sound too!”


Thanking You,


Rajaram Bojji



(Rajaram Bojji or B Rajaram as he is known popularly, is former managing director of the Konkan Railway and also inventor of ACD Technology and Skybus)



sandhya r gandhi

8 months ago

consider the case as possible as fast.

sandhya r gandhi
Suprabhat travels
Mobile no.09426960327

Kiran Kumar

10 months ago

Good Evening sir!
Sir I am kiran from hyderabd telangana.I requested direct train hyd to vellanikini.. More then people's going this place.. We are waiting.. Chennai... 15 hours in next train Chennai to vellanikini.plz...accept my request

Rajesh Badavate

1 year ago

Dear Sir,

We can ave electricity by applying sensor to fan,lights in trains & platform to stop misuse of electricity

[email protected]

manhar kothari

2 years ago

Railway has yet to extend e ticketing facility to most deserving class i.e person with disabilities.
I hope you will agree with me that benefit of technology should be first made available to this class.
I understand that DDTC(G) II,Railway Board vide their letter no 2011/TG-I/10/e –ticketing for disabled dtd 10.4.2013 has stated that the broad outline of the system framed by CRIS, has been examined in Board’s office and proposal has been agreed too.
I also understand that instructions issued to the concerned stakeholders i.e Northern Railway, CRIS and IRCTC to undertake necessary action to give effect to the proposal submitted by CRIS on a pilot basis over the Northern Railway.
Reasonable times have passed and hope some progress is being made on the subject.
Iam sure you will take special interest so that this facility is made available as early as possible to differently abled persons.


2 years ago

being a commuter of railway i just want to say that it is task of all us how travelling through the trains.Railway officers were not always present to rectify the fault and bad habits of being a passenger of the train it shall be our moral duty to stop the non sense or immoral activities.Railway has the duty to boost up there employees to do there best of the duty.SR KR and many more in south have more cleaner stations than the NR,NER,ER and many more,that what i exactly notice. Railway is very wide institution it is not possible for a one person.

Ganesh Bhat

2 years ago

Dear Railway Minister, I am sure that you are interested in making a difference like all the Ministers in Mr. Modi's Government. First and foremost is to tell all the Railway Officers not to show their arrogance and to shun the " We are the Lords and you the public are the slaves " attitude. It is their responsibility to see that all the trains kept clean and are run on time with priority to passenger trains.. Railways has become too obese and sluggish due to babudom and it must be your first target to make it trim and active .Earlier Railway Ministers have all failed to do anything in this direction and it is a good opportunity to bring about a visible change. People have given you the power to perform . People are sceptical but I hope you will prove them wrong.

t j ethiraj

2 years ago

The most important improvement will be manpower cost and their productivity.The cost of labor to be pegged at 33 % of revenue.The salary perks and preivelages of serving and retired employees must be taken into account.Right from railway board member to class IV employee must be accounted.Funds are drained in the segment leaving very less money for moderisation and maintenance
t j ethiraj

Mahesh Khanna

2 years ago

I would like to question the basis on which the season ticket fares are decided, it is irony that the commuter travelling from Churchgate to Andheri has to pay the fare that is charged up to Bhyandar.


2 years ago

Mr Prabhu, Railway Minister
I travel almost 6 times in a year on HWH YPR route but now find that AC 3 tier coaches are attached which are made in 1995 . Journey takes 36 hours.
recently I used B3 coach no 958111 on 7-12 in which 1 toilet was closed and used as Linen room. If you give your mail ID i can send pics also ,further the coach has rats and cockroaches and the seats were giving sound of metals and ratteling .
where is PM Sauchalaya Banwao MAKE TOILETS slogan going when railways itself is Closing 1 out of 4 toilets for 64 pax works out to 22 per pax.)


Deepak SB

In Reply to AJOY KUMAR SARAF 2 years ago

0n 15th Dec 2014 I travelled by PNR No. : 8630452755 Train No. & Name : 51034 / SAI NAGAR SHIRDI TO MUMBAI VT-CSTM FAST PASS.


On 15 Dec'2014-This train was in time at Ahmednagar around 7 PM.However on reaching near Ambernath-ON 16TH DEC 2014-EARLY MORNING-(not on platform) train was holted for over 3 (three ) hours form 6 AM till 9 AM -without any information to passangers as to why train has been STOPPED FOR OVER THREE HOURS.( NO SIGN OF ANY RAIL EMPLOYEES TO INFORM PASSANGERS REMAINING HUNGRY AND THIRSTY FOR OVER THREE HOURS).




I travelled by same train on 20th Nov 2014.Train was late by over 2 hours and 3 tier ac compartment was fully infested with RATES.This train was halted JUST BEFORE BYCULLA STATION AROUND 5 AM IN MORNING FOR OVER ONE HOUR.




jaideep shirali

2 years ago

If the Railways start functioning for the sake of the taxpayer rather than their own staff, things would change dramatically. An organisation that spends 93% on its own expenses can hardly be expected to have anything left over for safety, technology or passenger comfort. The perks enjoyed by Railway employees, working or retired, are out of place in today's times. It's time that the Railways get out of hospitals, real estate and unrelated areas, to give the taxpayer the benefit. Finally, the Railways need to remember that they exist because of the taxpayer and not that they are doing the taxpayer a favour by functioning.

Ajit Kumar Sinha

2 years ago

While I fully support the suggestions of Shri Rajaram, my only appeal to the Hon'ble Railway Minister is to ensure timely running of trains and improvement of passenger coaches. I invite Shri Suresh Prabhu to personally inspect the trains under East Coast Railway and take a decision.


2 years ago

In non AC bogies and 3 tier AC bogies, if a senior citizen has no option but to go the upper berth, he has to be in extremely fit condition. First, he has to negotiate the step which is more or less a welded rod and then crawl onto the sleeping area. For this reason, it is imperative that the railways should either develop and design a radically different type of coach or atleast develop a hoisting mechanism so that the passenger can easily ascend to his berth.


Narendra Doshi

In Reply to KAVIRAJ B PATIL 2 years ago

Due to this I have only the 2AC choice for non optional acceptance as wait listed first AC can never get confirmed more than 1-2% probability. I totally agree and a good, convenient option must get implemented fast.

Capt Edgar Sylva

In Reply to Narendra Doshi 2 years ago

The reservation system is a real farce.In Train 12619 Matsyagandha Express 2 AC compartment ONLY 16 out of 46 berths are available to the public. And it is a joke to see where the allotment is for the other 30 berths (It is a scandal- when I asked I was told under RTI that I would have to pay Rs 750/- to see the reservation chart? Of these 16 berths only 2 lower berths in the main vestibule rest are the side berths if they are lower ones.
Mr Prabhu you are from the Konkan area and this train would serve you and your family but where are the berths available if you are not a Minister. I think that the reserved berths should not be the BEST berths in the compartment; if someone has to travel at the last minute ANY BERTH WILL DO- this train is controlled by CR; it runs 790 kms on KR and then 20 odd kms on SR so I am told that there are reservations for each of these railways.
Mr Prabhu; if the track laid between LTT and MAQ is only about 900 kms why are passengers asked to pay for 1190 kms = why are charges made for superfast express when the speed of the train is less than the minimum for such trains.
Ladtly I would suggest you do your own study and see about the AC reservation system- how many hours after it opens do the berths get filled up- if this is the case why all the "reservations for en route passengers" (and after they get off its a 'free for all' with the TTE selling vacant berths to the highest bidder from the General class passengers.
IS it not funny


2 years ago

Excellent suggestions mr Prabhu pl consider in comments are related to CORRUPTION -recent example of GM mahesh Kumar -who is under suspension.RLY AUDIT by professional firms like Accenture/KPGM will be of great help.RLYs are monolithic and tough to handle Start from catering Contractors-lot of skeletons will roll out Nexus bet officials and Contractors /Rtd Babus ----list is endless
Small step-like PM suggested-SWATCH RAILWAY will go long way.
Why Does Prabhu Need ARMORED Vehicle to protect his empty FLAT in MUMBAI?Who is paying -we taxpayers Pl avoid Wasteful unjustified expenditure Prabhu is known as AJATSHATRU

Ramachandran Vizhakat

2 years ago

Good suggestion. The wastage disposal dustbin is too small. action be taken to take the wastage out at regular interval.

sohan modak

2 years ago

Dear Mr. Prahu, let me add my bit to Mr. B. Rajaram's note. In continuation with Swatch Bharat campaign, the sanitory affair of railway coaches need a huge input. We, Indians, by practice, being super dirty and ignorant in public cleanliness, you may consider redesigning the toilets, water reservoirs by way installing hand held water sprays. But most important, run a short video footage in or outside the toilet on what it takes to keep the toilets clean and how to maintain it in a clean usable condition for the next person.

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